Defined Benefit pension schemes have seen major improvement in their deficits with 46% now in surplus - partly helped by a fall in life expectancy reducing liabilities.

Financial Planning tech firm Wealth Wizards has revealed it is developing software that will enable financial advisers to implement a digital ‘abridged advice’ service.

Healthcare cash plan provider Medicash has transferred its £20m DB scheme, which has around 170 members, to TPT Retirement Solutions DB Master Trust.

According to adviser research from Aegon the demand for DB advice remains strong with nine out of 10 advisers, who are or have been active in advising on defined benefits, saying there are still many individuals who would benefit from taking advice.